June 22, 2008 at 1:00 am by Tom Lydon
State Street Global Advisors is reaching across the Pacific to try their luck in Japan, starting with a gold-focused exchange traded fund (ETF).
By the end of 2008, SSGA plans to list some of their U.S. ETFs on a Japanese exchange, reports Risa Maeda and Yuka Obayashi for Guardian.
This month, State Street is cross-listing its gold ETF in Tokyo, in an attempt to attract the mid-sized investor.
Six of the provider’s funds are available over-the-counter in Japan, including the S&P 500 SPDR (IVV). SPDR Gold Shares (GLD) will list on the Tokyo exchange as of June 30th. Japanese institutional investors are the key market for the yen-dominated gold shares ETF.
Tags: Asia, GLD, Japan, Metals & Mining, S&P 500
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